Life insurance, simplified.

Life insurance. You must know all about it. Why wouldn’t you? We’re inundated with advertisements which oftentimes all seem the same… And there always seems to be a catch.

Life insurance, simplified.

But do we ever take a moment to think about the true value of life insurance coverage

We might think that a certain age or set of circumstances exempt us from needing life insurance, but life is unpredictable and planning for the unexpected is a crucial step towards securing your family’s future. It’s easy to get lost in all the fine print, but we’re here to simplify life insurance. 

The basics

At its core, life insurance is a contractual agreement between an individual (the plan holder) and an insurance company. It acts as a vital safety net for those left behind. In exchange for regular payments, the insurer promises to pay a designated beneficiary a sum of money upon the death of the plan holder. 

Secure your future with life insurance

According to the Financial Sector Conduct Authority’s 2022 Financial Sector Outlook Study, only one in 10 South Africans has life insurance. This can be attributed to economic challenges, prioritising immediate needs over long-term planning, and a lack of knowledge of life insurance benefits.

Life insurance is not only for older individuals with dependants. Life cover can also safeguard younger people against disability, loss of income, or other risks.

Different life insurance plans available in South Africa

Term life insurance

Term life insurance covers a specific period, typically 10 to 30 years. If the plan holder passes away during this period, beneficiaries receive the death benefit. This option is more affordable for those seeking temporary financial protection.

Whole life insurance

Whole life insurance provides coverage for the plan holder’s entire life. It includes a savings or investment component that grows over time, offering an additional financial benefit. This is a long-term solution, providing lifelong security for beneficiaries.

Universal life insurance

Universal life insurance combines a death benefit with a savings component. It offers flexibility in premium payments and coverage amounts, allowing adjustments within certain limits as well as financial versatility.

Key person insurance

Key person insurance is taken out by a company to protect against financial loss if a key individual, such as an owner or top executive, passes away.

Capital Legacy’s flexible offering

By consulting with an expert, you can determine the appropriate cover for your peace of mind. This is where Capital Legacy comes in. It just makes sense to get life cover with the people you trust to do your will. (No catch here!)

MyCoverTM: The power of integration 

Capital Legacy’s MyCoverTM is a whole of life, life insurance offering that integrates with your will, with up to R15 million in cover and an easy application process. We offer flexible options like Protected Cover, More Benefit, Less Premium or Cashback, to suit your individual needs.  

MyAbility CoverTM

Our optional MyAbility CoverTM also offers up to R5 million cover for impairment and critical illness. The combination of impairment and critical illness means you are covered for both and if the benefit goes unused, it will pay out with your life insurance and not fall away. 

Life insurance is a powerful tool that goes beyond just a financial product. It offers peace of mind and acts as a safety net for the future. Capital Legacy’s quality life insurance ensures that neither you nor your beneficiaries are left short-changed. You can lean on one of our friendly life cover specialists to get the right deal, quickly and easily.

Visit or speak to your financial advisor for more information.

Whether you’re in need of a will, life insurance, education cover,
or the power of all three, we have got you covered.